2001 Wallace Rd NW | Salem Salem, OR 97304
Two parcels totaling 9 acres with multifamily development potential.
Property size:
9 SFProperty Features for 2001 Wallace Rd NW | Salem
General Information
- Size
- 9 SF
Source:
Tcnworldwide
Listing Agent: Jake Holman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
West Salem Multifamily Development Opportunity
This offering includes two parcels, one approximately 1.88 acres and the other approximately 7.24 acres, zoned RM2 (Residential Medium Density) in West Salem, Oregon. Located directly adjacent to the newly completed section of Marine Drive, the property has about 7 acres of buildable land and development potential for approximately 150 apartment units. Public utilities are available at the site, along with some street improvements. The location offers proximity to major transit corridors, expanding infrastructure, and a thriving local community. West Salem is a key growth area within the broader Salem metro region, experiencing consistent population growth and increasing residential demand. Planned improvements to Marine Drive will enhance accessibility, further positioning West Salem as a desirable location for residential development. The property is near major roads and transportation routes, with close proximity to I-5, downtown Salem, and Salem Airport. The location in the Willamette Valley benefits from steady regional expansion and strong local housing demand driven by population growth.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential land & home ...
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.050915
- Latitude
- 44.9633928
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FAQs
What type of property is this?
Residential land & home lot - Two parcels totaling 9 acres with multifamily development potential.
Where is this residential land & home lot located?
The property is located at 2001 Wallace Rd NW | Salem Salem, OR.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: - Development potential for approximately 150 apartment units.; - Located in West Salem, a key growth area with strong local housing demand.; - Zoned RM2 – Residential Medium Density.